Touted as the world's next Arabia and a region of unbridled opportunity following the Soviet collapse in 1991, the Caspian Sea and the turbulent oil rush that characterized the ensuing decade captured the world's attention in what at first sight appeared to be a triumph of capitalism over communism. Yet rather than engendering immediate wealth and prosperity for foreign multinationals, regional powers and local populations, successive years have seen problems both historical and contemporary erect significant hurdles in the path of progress. The Caspian redefines a Caspian debate long characterized by one-sided and politically motivated analyses and, at times, fantastic reporting. Bringing together a whole range of influential voices from academia, the media, the oil industry, civil service, the military and diplomatic corps, this book rewrites the region's recent history from the perspective of the players themselves, ferreting out the nuances that characterize contemporary Caspian energy and security politics.